SusanY1
Expert Alumni

Get your taxes done using TurboTax

Go ahead and file your partnership return using the income figures from your own records. 

For the 1099s issued to your personal name, you will want to still report this income (on Schedule C or the self-employment section of TurboTax) on your personal return but then list an equal amount as an expense.  The simplest way to do this is to list it as an "other" expense and give it a name that makes sense to you such as "income reported on Form 1065 instead".  

The IRS may ask you about it, but if you can show that you included it on the partnership return (and then transferred that income back to your personal via K-1) that's all you'll need to do.  Also note it's not common for the IRS to ask for detailed information but you should always keep records in a way that it is very easy for you to do so.  

 

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